Income taxes: hiring credit: veterans.

The Personal Income Tax Law and the Corporation Tax Law authorize various credits against the taxes imposed by those laws, including a credit for an increase in qualified employees of a qualified employer. This bill would, under both laws, for taxable years beginning on and after January 1, 2010, allow a credit in an amount equal to 25% of the wages, not exceeding $6,000, paid to each qualified veteran, as defined, by the taxpayer during the taxable year. This bill would take effect immediately as a tax levy.